LTC has been in a wedge for the longest time. From how the price is reversing, it seems like LTC will stay stuck in the wedge for quite a bit longer. Honestly, there are better coins to hold with better price movements, but if you value stability, LTC is not a bad hold. A breakout of the wedge could signal a move up to the $300 price range, giving around 50-60% profit depending on where you buy in.
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Paypal is now allowing merchants to pay via LTC, causing the spike in price. Still, this might be a temporary spike... we will have to see. LTC is still a good long term hold for $300, just not sure how much time it would take.
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If LTC holds support at $218, we could see a huge move up to $300.
Trade closed: target reached:
Take profit at $244, expecting a retracement back to $180+ levels... but we'll see. Long term expecting $360+.